Compute the component percentages for Lowe's income statement below. Discuss any trends you observe.

Lowe's Companies INC.

Consolidated Statements of Earnings

(in millions, except per share and percentage data)

Jan 30,2015 % sales Jan 31, 2014 % of sales Feb 1, 2013 % of sales

Net Sales $56,223 100% $53,417 100% $50,521 100%

Cost of Sales 36,665 34,941 33,194

Gross Margin 19,558 18,476 17,327

Expenses:

Selling general and administrative

13,281 12,865 12,244

Depreciation 1,485 1,462 1,523 Interest-net 516 476 423

Total expenses 15,282 14,803 14,190

pretax earnings 4,276 3,673 3,137

Income tax provision 1,578 1,387 1,178

Net earnings $2,698 $2,286 $1,959